Even after completing your content marketing project, it is good to consider the next steps in order to interpret if it is profitable enough or not? Many marketers neglect the importance of measuring ROI because it is a very challenging task to find accurate data and measure it precisely. Thus, in this way getting an accurate ROI measurement for your content marketing campaign is not a cup of tea.
Problems You Face With Content ROI
Every content marketer faces two major problems before carrying out ROI measurement of a campaign. The first problem is all about accepting an unexpected negative result. This happens with every beginner. Instead of running from this reality, one should accept this fact because content marketing is a part of long-term marketing strategy, even if it is effective according to you.
Another problem is to consider all possible benefits of the content marketing and calculating them separately. It is a tough job track down the numerical value of your brand’s image in the market because the overall profit can be measured through the existing or the probable additional sales.
You must resolve these two issues if you want to carry out an accurate ROI calculation. Just follow these three simple steps and tackle these two problems effectively.
- Calculate Your Cost
Start with calculating an absolute value of money spent for your content marketing strategy. It is easy to determine the cost of campaigning if you are working with an agency or a contractor. On the other hand, if the work of a marketing campaign is assigned to your employees, don’t forget to add their expenses too. Even if you have assigned this work to one person, you must consider his salary in the list.
- Measure Conversion Value
The next step is the opposite of the first one. In this, you have to analyze the productivity of your content, i.e. the precise amount of money made through content marketing. If you give content for a product then it is simple to calculate the actual price. But sometimes, it is difficult to do the same because of complex sales techniques. Check out the next step after calculating the overall conversions you are getting for every month.
- Measure Traffic Impact
Every content makes its own impact on the customers and in this way it is somehow responsible for creating traffic on the site. It is all about how many potential customers are moving towards the content and you can relate your conversions to those people. It is also possible that your content may get the traffic due to organic searches through various search engines like yahoo and Google. And sometimes, people are pointed to your content through external links.
Generate Leads From Content Marketing
In the competitive global world, content marketing is considered as a powerful tool to boost your business effectively. It is a widely used way to reach a large number of potential customers at a time and communicate with them as well. You can successfully lead your business through this profitable marketing strategy.
As ROI is all about measuring the effectiveness of your campaigning strategy, it will definitely allow you to come up with more developed marketing techniques in the future. However, ROI can be positive or negative, but it is significant in both cases. Even if the resulting ROI is not satisfying, it is profitable for your business because you will get a chance to correct yourself.
Calculating ROI for the content marketing campaign is not an easy task to do but is essential too. There are several factors which must be taken into consideration in order to carry out your ROI estimation accurately.
Ritu Singh is a proficient online marketing expert at Bettergraph – Ecommerce SEO Services